Singapore’s Wealth Management Institute (WMI) plans to augment its training and community building initiatives to pave the way for 5,000 participants in its family office ecosystem programmes by 2025.

There is strong demand in the city-state for local talent with diverse family office skillsets – ranging from investments to wealth planning, philanthropy, governance and family office operations – says the WMI, which was founded by Singaporean sovereign wealth funds GIC and Temasek.

The institute’s programmes will cover a range of critical skillsets, including investments and portfolio management, ESG (environmental, social and governance) issues, philanthropy, impact investing, trusts, governance and family office leadership.

In addition, it will launch a new applied thought leadership journal on family office topics, named WMI Impact, to benefit the family office ecosystem in Singapore and beyond. The institute will share case studies, best practices and practical tools on in-demand topics like investments, impact, entrepreneurship and governance.

“Skilled talent will be the key enabler for the continued growth and development of family offices,” says Foo Mee Har, WMI’s CEO. “The hunger and drive to learn and build expertise have been very evident.”